Intel Corporation (INTC) reported its Q2 earnings on Thursday last week and confirmed that revenue fell by 3 percent in comparison to the same period last year. However, Intel managed to beat analysts’ estimates for its major business segments. Earnings per share of $1.06 were reported beating analysts’ estimates of 89 cents per share. Revenue of $16.51 billion was reported versus analysts’ expectations of $15.70 billion. Revenue of $8.84 billion was reported for the company’s major business segment, the Client Computing Group which includes desktop and notebook PC chips. Intel’s Data Center Group, offering server processors generated $4.98 billion in revenue beating estimates of $4.89 billion by FactSet analyst consensus.
“Trade uncertainties created anxiety across our customers’ supply chain and drove a pull-in of client CPU orders into the second quarter,”, “We also halted shipments to certain customers in response to the U.S. government’s revised entity list. After a thorough review, we were able to resume shipments of some products in compliance with regulations, and the net impact on the second quarter was limited.” stated Intel CEO Bob Swan.
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